Textron reported its Textron Aviation Q4/17 unit revenues of $1.4 billion were down 3%, primarily due to lower military volume. The company delivered 58 new Citation jets, flat with last year; 31 King Air turboprops, up from 28 in last year’s fourth quarter and two Beechcraft T-6 trainers, down from eight last year.
Textron Aviation profit was $120 million in Q4/17, down from $135 million a year ago, primarily due to higher research and development expense.
Textron Aviation backlog at the end of the fourth quarter was $1.2 billion, up $15 million from the end of the third quarter.
Textron reported its Textron Finance segment revenues of $15 million and $69 million for Q4/17 and full-year 2017, respectively, were down from $18 million and $78 million for the same periods in 2017. Finance segment profit of $6 million in Q4/17 was up from $4 million a year earlier. Full-year 2017 finance profit of $22 million was up from $19 million in 2016.
Finance group assets at December 30, 2017 of $1,169 million were down from $1,280 million a year earlier. Textron noted that its finance group liabilities were $953 million at year-end 2017, down from $1,123 million at the end of 2016.
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